China’s Wanda Group Taking Over Hollywood: Profit or Propaganda?

In an announcement that surprised few, China’s Dalian Wanda Group acquired Dick Clark Productions Inc. for $1 billion on November 4th, the company that runs the Golden Globe Awards and the “Miss America” pageant. The Wanda Group is a Chinese multinational conglomerate that includes Wanda Commercial Properties, “the world’s largest real estate enterprise,” among many other subsidiaries. Its founder and chairman, Wang Jianlin, has an estimated net worth of $32 billion, making him the richest man in China. Adding to past acquisitions of AMC Theaters and Legendary Entertainment, the purchase of Dick Clark Productions is another major coup for Wang, who has next set his sights on owning one of the six major Hollywood film studios.

Furthermore, in conjunction with the Qingdao municipal government, Wanda has pushed forward an incentive program that subsidizes foreign TV and movie production companies provided that they carry out their productions in its “new $5 billion studio complex” in Qingdao. Each film or television production will be allotted a rebate of no more than $18 million, and the “total amount available to disperse will be $150 million annually.” Interestingly, rebate productions have been given three classifications, one of which requires “Chinese cultural, elements, Chinese actors and Chinese investors.”

Though Wang has done his best to deny any political agenda behind his business strategy, such skepticism is not completely unfounded especially given the new film law the Chinese government has recently passed, which will carefully screen and censor film content on political grounds. According to the law, any content that is “deemed harmful to the ‘dignity, honor and interests’ of the country” will be banned. It also encourages the promotion of “socialist core values.” The National People’s Congress Standing Committee has already voiced its approval. The implications for Hollywood remain unknown, but it does little to quell the worries of those who fear Chinese cultural elements will dominate American television and cinema.

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Robert A. Kapp is senior advisor to the China Program at the Carter Center. He has been principal of Robert A. Kapp and Associates, a business consulting firm, since 2004. From 1994 through 2004 he served as President of the United States-China Business Council…